PHH Mortgage, a subsidiary of PHH Corporation is now utilizing UTLS Technology Service's BackInTheBlack Fannie Mae-Certified Home Affordable Modification Program (HAMP) Workout Solution in an effort to capture additional process efficiencies and reduce cost. UTLS Technology Services is a subsidiary of UnitedTech Lender Services Inc.
With the BackInTheBlack solution in place, PHH Mortgage will benefit from having a seamless, Web-based workflow application for managing the HAMP process and providing automated decisioning and workflow to increase accuracy and efficiency. Additionally PHH Mortgage will utilize the complete HAMP workflow "Out of the Box" solution, including guidelines, eligibility, NPV/IR2 integration, automated waterfall calculation, a dynamic document generation preconfigured with all HAMP documents and XML upload to Fannie Mae's HSSN system.
"PHH Mortgage is excited about this alliance with UTLS Technology Services," stated Martin Foster, senior vice president of servicing. "Aligning our products and services with premier mortgage servicing providers such as UTLS Technology Services is what our clients have come to expect from PHH Mortgage. We continually strive to provide exceptional solutions and are certain the Loss Mitigation service via UTLS's BackInTheBlack HAMP workout is the most efficient."
"Streamlining the HAMP process in an effort to reduce time and cost were major factors as to why PHH Mortgage has chosen the BackInTheBlack HAMP solution," said Patrick Kopins, president of UTLS Technology Services. "Through BackInTheBlack, PHH will have a holistic approach to performing HAMPs, utilizing a more accurate and effective methodology made available through the collaboration we have done with Fannie Mae and have translated into our decisioning, calculations and rules engine.
For more information, visit www.utls.com or www.phh.com.